FTX execs settle with SEC and agree to officer-director bans

Group 1 - The SEC has barred former executives of the collapsed crypto exchange FTX from holding top roles at public companies as part of a non-monetary settlement [1][2] - Caroline Ellison received a 10-year ban, while Zixiao Wang and Nishad Singh received 8-year bans [2] - The SEC's complaints indicated that these executives, along with Sam Bankman-Fried, directed hundreds of millions of dollars in FTX customer funds to Alameda Research for risky investments and loans [2][3] Group 2 - Alameda Research, a sister company of FTX, had a "virtually unlimited" line of credit funded by FTX's customers due to the actions of the executives involved [3] - FTX allowed users to trade digital assets but collapsed in 2022 after failing to process customer withdrawals [3] - Sam Bankman-Fried was convicted on seven counts of fraud related to FTX's bankruptcy and is currently serving a 25-year prison sentence [4][5]